The idea of outsourcing the company secretary service role is now increasing in popularity not only in Singapore but also all over the world. Outsourcing of company secretarial role is already sought after by all types of companies such as private and listed companies, small and large companies alike as well as medium and small-sized enterprises and even start-ups. Although outsourcing is actually accompanied with many good reasons, before only a few companies accepted the idea since they were more comfortable dealing with an in-house corporate secretary. They especially considered that hiring a corporate secretary this way would give them more chances of controlling the position and not only that but also they wanted an accessible, accountable and reliable company secretary, and the answer to this would be for them to hire an in-house secretary.
Today, there have been changes and outsourcing the company secretary service is highly-sought after by many companies now. This has been the result of the outstanding benefits the companies can obtain from outsourcing. Also, the number of reputable outsourcing companies is increasing and this has created a competition among such companies, thus resulting in competitive pricing. Outsourcing was once considered as costly by many companies but that was at the time when they did not see its benefits over hiring a corporate secretary in-house. However, now that the advantages of outsourcing are seen by these companies and because of the competitive pricing attached to outsourcing, such companies are now convinced of taking advantage of it. They are now willing to entrust the significant company secretarial role to what is considered as the third-party company and beginning to see that outsourcing also ensures company compliance.
The advantages of outsourcing the company secretary service position are never underestimated in the sense that:
- Such advantages can greatly contribute to the effectiveness and efficiency of the daily operations of the company and would lead to the company’s growth as a whole.
- The company saves in areas concerning life, disability insurance and health as well as in matters regarding office space and equipment such as fax machines, copiers, computers, etc. since the outsourcing company already provides these.
- The company can use the amount of money saved on improving the business development and infrastructure.
- The company can benefit from the extensive experience and knowledge of skilled individuals who possess a high level of training in company secretary service.
- The company is saved from the costs of training since the screening of the qualified team is part of the outsourcing company’s responsibilities.
- The company is assured that all the secretarial functions and company requirements are performed on time as well as submitted to the appropriate authorities.
- Based on its specific requirements, the company may also avail of the other services tailored for it and offered by the outsourcing company.
Based on the advantages mentioned above, the beauty in outsourcing the company secretary service lies in the fact that it will give you a much greater opportunity and more time to focus strongly on what’s more important and what needs more attention in your company, thus resulting in more progress and further expansion of your company.
Opposite to what was thought of by many companies before, outsourcing the secretarial position can actually place your company on a better and more progressive stance. Most outsourcing companies are committed to performing the duties of the company secretary solely, thus they are able to perform such duties effectively, efficiently and in a timely manner, and this gives security and assurance on the part of the companies hiring their services. This also gives the company more assurance since they are given the idea that the outsourcing companies can always address their needs.
The duties and responsibilities of a company secretary are very crucial to the company’s existence. He is especially expected to perform all secretarial functions well from record keeping to acting as an executive assistant and communications officer. Only a highly skilled and exceptional company secretary can perform all important tasks with efficiency, thus the presence of this position in every registered company is especially required by the law in Singapore. Hence, the benefits of outsourcing the company secretarial role far outweigh the benefits of hiring a company secretary in-house that the demand for it has been increasing and is expected to rise further in the future.